Tesla Q3 report reflects positive fundamentals ‘for now,’ says Barclays

Barclays says Tesla (TSLA) posted a solid Q3 beat, reflecting upside on margin. While the Q3 report doesn’t change the underlying debates around the company’s autonomous vehicle strategy or the question of 2025 volume and the potential for “Model 2.5,” it should be deemed a positive as it reflects positive fundamentals “for now,” the analyst tells investors in a research note. The firm believes Tesla estimates will get “rightsized and likely past the worst on margins.” It keeps an Equal Weight rating on the shares with a $220 price target